Barrington Research Reaffirms “Outperform” Rating for Perdoceo Education (NASDAQ:PRDO)

Perdoceo Education (NASDAQ:PRDO)‘s stock had its “outperform” rating restated by Barrington Research in a research note issued to investors on Friday,Benzinga reports. They currently have a $32.00 price target on the stock. Barrington Research’s price objective indicates a potential upside of 12.99% from the stock’s previous close.

Separately, StockNews.com upgraded Perdoceo Education from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, January 29th.

Perdoceo Education Stock Down 2.8 %

Shares of PRDO opened at $28.32 on Friday. Perdoceo Education has a 52 week low of $16.12 and a 52 week high of $29.47. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 14.23, a PEG ratio of 0.81 and a beta of 1.06. The stock’s 50-day moving average price is $27.22 and its 200-day moving average price is $24.48.

Perdoceo Education (NASDAQ:PRDO) last issued its earnings results on Tuesday, November 12th. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.06. Perdoceo Education had a return on equity of 15.58% and a net margin of 20.42%. The firm had revenue of $169.83 million for the quarter, compared to the consensus estimate of $164.60 million. During the same quarter in the prior year, the business earned $0.64 earnings per share. The company’s revenue was down 5.6% compared to the same quarter last year. As a group, equities analysts anticipate that Perdoceo Education will post 2.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Todd S. Nelson sold 12,472 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $26.29, for a total value of $327,888.88. Following the transaction, the chief executive officer now owns 615,697 shares in the company, valued at $16,186,674.13. This trade represents a 1.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP John Robert Kline sold 30,574 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $26.47, for a total value of $809,293.78. Following the completion of the transaction, the senior vice president now owns 130,405 shares in the company, valued at approximately $3,451,820.35. This trade represents a 18.99 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,594 shares of company stock worth $1,541,396. 1.81% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Perdoceo Education

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Perdoceo Education by 1.9% in the third quarter. Geode Capital Management LLC now owns 1,803,391 shares of the company’s stock valued at $40,114,000 after acquiring an additional 33,092 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Perdoceo Education by 0.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 950,573 shares of the company’s stock valued at $25,162,000 after purchasing an additional 5,748 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Perdoceo Education by 3.0% in the third quarter. JPMorgan Chase & Co. now owns 582,180 shares of the company’s stock valued at $12,948,000 after purchasing an additional 16,720 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Perdoceo Education by 1.2% in the third quarter. Empowered Funds LLC now owns 485,552 shares of the company’s stock valued at $10,799,000 after purchasing an additional 5,571 shares during the last quarter. Finally, Wellington Management Group LLP acquired a new stake in shares of Perdoceo Education in the third quarter valued at approximately $9,374,000. Hedge funds and other institutional investors own 93.46% of the company’s stock.

Perdoceo Education Company Profile

Perdoceo Education Corporation provides postsecondary education through online, campus-based, and blended learning programs in the United States. It operates in two segments, Colorado Technical University and The American InterContinental University System. The Colorado Technical University segment offers academic programs, such as business and management, nursing, healthcare management, computer science, engineering, information systems and technology, project management, cybersecurity, and criminal justice.